If you are searching for housing near UW or Laurier, you have probably seen listings asking for a "key deposit," "damage deposit," or extra money beyond first and last month's rent. In most Ontario rentals covered by the Residential Tenancies Act (RTA), those charges may not be enforceable.
What landlords can collect
For standard residential tenancies, landlords are generally limited to collecting rent — often requested as first and last month's rent before move-in. Last month's rent is a legal prepayment of rent, not a separate "security deposit" you get back at the end.
Key deposits and damage deposits
Clauses requiring a refundable key deposit, pet deposit, or general damage deposit are common in Waterloo student leases but often conflict with RTA rules. A landlord cannot usually withhold money for normal wear and tear. If a lease asks for extra deposits, treat it as a flag worth reviewing before you sign — not as something you must pay without question.
What to do before you pay
- Read the full lease and run it through our free lease review tool.
- Ask which charges are refundable and get answers in writing.
- Never send extra deposits to "hold" a unit before signing.
- Take move-in photos and email them to your landlord the same day you move in.
Condo buildings and some exempt units follow different rules. When in doubt, get advice from WUSA Student Legal Protection before signing or paying.